Archives for General News

Housing Providers Can’t Continue to Live in Financial Hardship

NAR is ready to oppose any “unreasonable effort by Congress to extend the (eviction) ban without assistance for small housing providers,” says Chief Advocacy Officer McGahn. WASHINGTON – The Biden Administration on Thursday said it would not attempt to unilaterally extend the Centers for Disease Control and Prevention’s (CDC) national eviction moratorium, allowing it to expire on July 31.  In a statement, the White House acknowledged a recent Supreme Court ruling on the issue, saying, “. . . the Supreme Court has made clear that this option is no longer available.” President Biden is now asking Congress to intervene and
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CDC’s Eviction Moratorium Has Expired

By Michael Casey The Supreme Court had signaled the ban would only be extended to July 31. With the ongoing spread of the COVID-19 delta variant, Biden is asking Congress to extend the fed eviction ban, but the prospects of legislative action are unclear. BOSTON (AP) – The Biden administration announced Thursday it will allow a nationwide ban on evictions to expire July 31, arguing that its hands are tied after the Supreme Court signaled the moratorium would only be extended until the end of July. The White House said President Joe Biden would have liked to extend the federal
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Is the Office Back?

By Swapna Venugopal Ramaswamy With in-person work on the rise, employees may return to reconfigured office layouts meant to encourage social distancing and sanitization, plus other safety features. BOSTON – Julie Whelan thought she understood how offices would change in a post-pandemic world. As a lead researcher a CBRE, the world’s largest commercial real estate services firm, she had spent a lot of time identifying trends that would shape how a reimagined workplace would look: More safety features, more communication devices and an atmosphere that encouraged productivity. Still, when she stepped into her redesigned, super tech-enabled Boston office at her
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Dear Joey: I Filed a Timely Complaint. Why Hasn’t It Been Heard?

By Joey Sale An associate filed an ethics complaint and feels certain she did so within 180 days. However, over a year has passed since filing, and the hearing is just now coming up. Something must be wrong – right? ORLANDO, Fla. – Dear Joey: How can a timely complaint that was filed over a year ago be heard now? I know there are timeframes regarding filing in the Code of Ethics and Arbitration manual, but it seems ridiculous that the case is just being heard over a year later. Dear Frustrated Party: I understand your questions and frustrations. However,
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Legal Dangers If Buyers Make Offers ‘More Appealing’

By Laura Gomes Part 1 of a 3-part series: Buyer’s offers. In today’s competitive market, buyers scramble to make their offer the most appealing one in the seller’s pile. But sometimes they may agree to concessions that do them more harm than good. ORLANDO, Fla. – Part 1 of a 3-part series: Buyer’s offers. The series focuses on potential pitfalls in relation to buyers’ attempts to make their offers “more appealing” in today’s hot market. Many buyers are tempted to – and often do – remove or change certain aspects of their offer to make it more appealing, in hopes
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Multiple Offers – from Multiple Perspectives

By Joel Maxson Perspective matters. How does the collection of laws and rules related to multiple offers look to a buyer’s representative? How does that collection look to a seller’s representative? ORLANDO, Fla. – As we continue to navigate an aggressive seller’s market, frustrations are on the rise. We continue to hear all sorts of stories on the Florida Realtors Legal Hotline about angry buyers, picky sellers, and members struggling to navigate this market. We previously looked at several rules in play in a multiple offer situation: “How Should I Field Multiple Offers?”. That article was written from the perspective
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Fed Maintains Interest Rates, Downplays Rising Pandemic Risk

By Christopher Rugaber The Federal Reserve didn’t change interest rates, largely downplayed inflation fears, and said each successive wave of pandemic resurgence has had less economic impact. WASHINGTON (AP) – The spread of the COVID-19 delta variant is raising infections, leading some companies and governments to require vaccinations and raising concerns about the U.S. economic recovery. But on Wednesday, Federal Reserve Chair Jerome Powell injected a note of reassurance, suggesting that the delta variant poses little threat to the economy, at least so far. “What we’ve seen is, with successive waves of COVID over the past year and some months
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NAR: June’s Pending Home Sales Fall 1.9%

By Kerry Smith The number of homes that went under contract “has seesawed since Jan.,” says NAR Chief Economist Lawrence Yun, but higher home prices have taken a toll. In areas where housing is more affordable, local pending sales rose because buyer demand remains strong. WASHINGTON – Pending home sales declined marginally in June after recording a notable gain in May, the National Association of Realtors® (NAR) says. It was even across the country, however, notably in the four broad regions tracked in NAR’s report. It was split both year-over-year and month-over-month. Only one region – the Northeast – recorded
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Mortgage Rates Move a Little Bit Higher This Week

By Kerry Smith While average mortgage rates have generally declined over the past few weeks, the 30-year, fixed-rate mortgage rose from last week’s 2.78% to 2.80%. MCLEAN, Va. – Average mortgage rates rose a little bit this week, according to Freddie Mac’s weekly Primary Mortgage Market Survey. The most popular 30-year, fixed-rate mortgage averaged 2.80%. “As the economy works to get back to its pre-pandemic self, and the fight against COVID-19 variants unfolds, owners and buyers continue to benefit from some of the lowest mortgage rates of all-time,” says Sam Khater, Freddie Mac’s chief economist. “Largely due to the current
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NAR: 2 of 5 ‘Volunteering Works’ Winners Are from Fla.

By Kerry Smith NAR and the Good Neighbor Society named the five volunteers who will receive seed money and mentoring – a list that includes Realtors from Seminole and Jacksonville. ORLANDO, Fla. – The National Association of Realtors® (NAR) and the Good Neighbor Society announced the recipients of the 13th annual Volunteering Works grants and mentoring program, and two of the five winners call Florida home. The program awards funding to Realtors® who work on small-scale charitable efforts while matching them with mentors in their field. Each winner receives a $1,000 seed grant and one year of one-on-one mentoring from
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